Comcast stepping down marks the conclusion to one of this year's most high-profile battles in the media business. Disney's winning offer for Fox's media studio and television assets totaled $71 billion in cash and stock.

Sky, Europe's largest pay-TV operator in which Fox owns a 39 percent stake, is now the center of attention for Comcast as the NBCUniversal parent aims to broaden its European exposure and build out more current distribution methods. The latest move in that bidding battle came on July 11, when Comcast raised its offer for Sky to £25.9 billion (roughly $34 billion).

But even amid the heated bidding wars, Cramer thought investors weren't giving Disney or Comcast the credit they deserved.

"In the last few years, Disney and Comcast, parent company of this network, have been victims of what I call their own success," he said.

For Disney, the success of its theme parks, Star Wars and Marvel franchises and television properties was frequently overshadowed in the market by its ESPN subscriber losses.

For Comcast, its profitable growth and lucrative cable empire was dinged by the Justice Department's rejection of its bid for Time Warner, later swept up by telecommunications giant AT&T.

But now, Disney is "changing its stripes in a very positive way" by moving forward on acquiring a swath Fox's entertainment assets that includes long-reigning franchises like The Simpsons and National Geographic, Cramer said.

And, "with more than 22 million customers, Sky gives Comcast the growth it needs to win back the market’s affection" should that deal close, the "Mad Money" host argued.

Overall, this battle has taught Cramer that "beauty is in the eye of the investor."

"Their love can seem irrational at times, but to portfolio managers, loving these stocks" — especially growing media giants — "means never having to say sorry to your investors," he concluded.

Disclosure: Comcast is the owner of NBCUniversal, parent company of CNBC and CNBC.com. Additionally, Cramer's charitable trust owns shares of Comcast.